Daily Spot…

A daily summary of high-profile members of several complexes… View a more detailed discussion of each chart at the end of today’s Market Wrap.

Eurodollar Mar Contract (EC, ETF: (FXE, UUP))
No further delay was needed before trending up through 1.1470 since Tuesday had confirmed Monday’s bounce. Wednesday’s open at 1.1470 did trend sharply higher to 1.1530 until FOMC news triggered a drop back down to 1.1470.

Gold Feb Contract (GC, ETF: (GLD))
Retesting 1255.00 overnight didn’t hold this time, and Wednesday morning trended up to fresh highs testing 1262.00. The FOMC reaction plunged down to 1248.00, which is the newly adjusted sell signal.

Silver Mar Contract (SI, ETF: (SLV))
Still testing 14.71 at the open, Wednesday morning firmed to fill the gap back up to the 14.83 high close. Its post-close reaction to FOMC fell back down to 14.71.

30-year Treasury Mar Contract (US, ETF: (TLT))
Already greeting Wednesday’s FOMC events from a position of strength, the morning trended up to fresh highs. Its reaction extended to probe 145-00, confirming Tuesday’s breakout to require at least an eventual third higher close.

Crude Oil Feb Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Wednesday’s bounce held its limit, while also not confirming Tuesday’s plunge as being a breakout. A bottom and recovery are now free to form, so extending to a fresh low close Thursday would be bearish.

Natural Gas Jan Contract (NG, ETF: (UNG, UNL))
Tuesday’s bounce that filled the gap back up to Friday’s 4.81 close had only neutralized attractions above, enabling Wednesday to reverse back down and attack fresh pullback lows. While basing is still likely, it could include dips to 4.33.